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• EUR/NZD dipped on Friday as rally in equities, oil, iron-ore helped buoy kiwi dollar against euro.
• Pair traded in 1.6527/1.6415 range and was last trading at 1.6441 .
• The pair inability to hold gains above 1.6551(38.2% fib), may increase the likelihood of a drop towards 1.6360 level.
• Immediate resistance is located at 1.6566 (38.2%fib), any close above will push the pair towards 1.6638(Higher BB).
• Immediate support is seen at 1.6425 (50%fib)and break below could take the pair towards 1.6360 (61.8%fib).
Recommendation: Good to see around 1.6450, with stop loss of 1.6590 and target price of 1.6380
